British American Tobacco PLC (BATS.LN) said Tuesday that it expects the recently passed U.S. Tax Cuts and Jobs Act will lead to a 6% increase in its 2018 earnings per share.
The multinational tobacco group said that while the tax reform will have no impact on its underlying effective tax rate for 2017, it will reduce its 2018 effective tax-rate percentage to the "high-twenties."
It said it expects the changes will result in a one-time non-cash tax credit derived from the revaluation of deferred tax related to the acquisition of Reynolds American Inc.
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(END) Dow Jones Newswires
January 09, 2018 02:31 ET (07:31 GMT)